After my blog post on focusing on your niche (Are You Trying to Be A Superhero?), I received many questions on how to identify and find your niche. It is an interesting journey for entrepreneurs and can be frustrating. First, Merriam-Webster defines niche as the following:
Niche: a place, employment, status, or activity for which a person or thing is best fitted; a specialized market.
Your niche is a specific product or service that you deliver to a specific audience and you're good at it! Here are a few ways to identify your niche and save yourself some growing pains on the journey.
3. What Product/Service Do You Love Most?
Yes, you love your business (you never would've started it in the first place, if you didn't), but is there a service or product that sticks out above the rest? Focus on that product/service and the audience it caters to. For example, KR Design is a marketing firm. Marketing is a broad category and that means our firm can do a variety of services. I love sitting down with business owners to address their marketing issues and do some brainstorming, which is why we heavily emphasize our marketing consultations.
2. Narrow It Down Further: What Do Your Customers Have in Common?
Make a list of your favorite current customers. What do they have in common? Are they women that are 35-45, single men who have no employees, or moms with children between the ages of 5-10? Really dive into the characteristics of the customers you love doing business with. I found that most of my customers are women entrepreneurs who have no employees, are 35-45, and have service-based businesses.
1. What Is Your Passion?
Sometimes your niche comes from your passion. Is there a certain industry you're enthralled with? If it is a industry with many sub-categories, what is the aspect you love most? A client of mine is a home stager and her passion for home staging stems from organizing and decorating homes.
Any suggestions or comments? Let us know below!
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